proudgunner wrote: ↑Tue Oct 13, 2020 3:51 pm
Why the change from V5 to V20? If you could’ve started at the V20, would you have?
A couple reasons, but the principal one was that I didn't have a lot of agency to do the work I wanted - it was a sort of "flourish where we plant you" mentality. I was perfectly content to do whatever was thrown at me for the first couple years (for me, a lot of private M&A, a little public M&A, and capital markets), but once I discovered I really didn't like commitment papers (a finance thing) and wanted to get more involved with clients in certain industries (tech, life sciences), it felt like I was putting a lot of my time into things that weren't helping me get closer to the jobs I eventually wanted.
The second firm had a smaller (certainly less prestigious) corporate practice but still did great work with great clients, and gave me the ability to chase down certain work. Culture was also better/more sustainable, and tech transactions work has less fire drills in general (because none of the companies involved are freaking out because they're at the end of their life cycle and/or there generally just isn't a need for ultra-fast turnaround).
The catch is that I couldn't have known exactly what work I'd prefer to do without spending a couple years practicing. I found the practice areas I liked more by ruling things out one by one as opposed to knowing from day one what my preferences were. If I knew what work I wanted, I would've gone straight to the V20, but assuming I was still in the dark and looking to keep my options broad I would start at the V5 all over again.
How large of a role do you think your work in tech trans played in finding your in-house position? Do you think you could have gotten your current role if you had stuck to only M&A work?
The tech trans work was huge for my particular role, but they also really liked that I had generalist corporate experience (and flagged that specifically). I would've had some chance if I'd stuck to M&A (since a lot of places still see it as a general proxy for broad corporate experience) but things would've been more uncertain.
Two things I want to flag here, though:
1.
In-house job applications are fundamentally more uncertain than law firm job applications. With law firms, especially in NY, they might hire hundreds of summer associates at once (you're not auditioning for a single slot), and turnover at law firms is high. In-house jobs will fill themselves on an as-needed basis and it might be pretty rare that people even leave. In my case, the legal team was looking to grow but it's still under 15 people total. What this all means is that you never know when the companies you like will even have a slot open, and if they don't, it's not your fault. You can't interview for a position that doesn't exist.
2.
M&A is still the most versatile practice group. Tech transactions attorneys I've worked with have lamented that they're pigeonholed into doing certain niche work. M&A will forever give you the most optionality. That said, I do acknowledge that LA during COVID has more tech transactions-focused job postings currently than general corporate postings, but that's a temporary peculiarity with COVID and probably limited to LA for all I know.
In spite of both 1 and 2 above, if you're a privacy lawyer, I'm sure you can get a good in-house job SOMEWHERE right now and fast. It's only gonna get more important.